Silver rate today: White metal climbs Rs 2,000 to Rs 1.84 lakh/kg; gold slips slightly as investors book profits
Silver rate today: Silver prices rebounded sharply on Thursday, rising by Rs 2,000 to trade near their record high at Rs 1,84,000 per kilogram (inclusive of all taxes) in a volatile session, after touching a lifetime high of Rs 1,85,000 per kg on Tuesday.Spot silver was marginally up at $53.05 per ounce, following Tuesday’s record of $53.62 per ounce, PTI reported.Meanwhile, gold prices retreated slightly from record levels, declining by Rs 200 to Rs 1,31,600 per 10 grams in the national capital amid profit booking, according to the All India Sarafa Association.
Gold of 99.9 per cent purity had climbed by Rs 1,000 in the previous session to hit Rs 1,31,800 per 10 grams.In the local bullion market, 99.5 per cent purity gold also dipped by Rs 200 to Rs 1,31,000 per 10 grams (inclusive of all taxes), after previously finishing at Rs 1,31,200 per 10 grams, its all-time high.In international markets, spot gold rose nearly 1 per cent to a fresh record of $4,246.08 per ounce as investors sought safe-haven assets amid fiscal concerns in the US and rising global tensions.“Gold continued its upward momentum as the ongoing US government shutdown delayed key economic data releases, keeping uncertainty high in the market,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.Kaynat Chainwala, AVP Commodity Research at Kotak Securities, noted that expectations of potential US central bank interest rate cuts later this year are also shaping investor sentiment.Analysts said occasional profit booking may weigh on prices in the short term, but the overall trend for precious metals remains bullish, underpinned by macroeconomic and geopolitical factors.
